Richmond Management Posts

Obopay.com is a mobile service that allows people to transfer money through text messages. The Redwood City-based company was founded by Carol L. Realini and John Tumminaro. Nokia Corporation wanted to get in early on the company’s success so they invested $70 million into the company. The deal was primarily in exchange for preferred stock.

Obopay currently works in the U.S. and in India. Some of Obopay’s competition includes PayPal Mobile, TextPayMe, and Mpayy.